Decline in Domestic Production According to the International Fishmeal and Fish Oil Organization (IFFO), domestic fish meal production in China in 2024 decreased by 34%, totaling only 400,000 tons. Fish oil production also showed negative dynamics, dropping by 31% to 82,000 tons. The main reasons for this decline include raw material shortages, low processing profitability, and significant pressure from competitive import product prices. The Chinese fish industry is facing numerous challenges, including the depletion of fish stocks in its waters, which makes domestic production increasingly unsustainable. As a result, many processors are turning to imports to meet the growing demand for feed ingredients. Import Growth Given the decline in domestic production, China has significantly increased fish meal and oil import volumes. In 2024, fish meal imports reached a record of almost 2 million tons, which is 19% more than in the previous year. This trend continued in the first quarter ...